India has a distinct advantage over advanced economies in having a larger percentage of a young workforce and this contrast may become starker in the years to come. However, the developed and the developing economies show a similar trend in the declining percentage of youth joining the workforce. This trend is attributed to a larger proportion of young people joining schools in comparison to the previous years, with the emerging economies showing a higher percentage. This is a welcome trend for countries like India where sustained efforts by the successive Governmental and other agencies in the field of basic education and curtailing the child labour have brought positive results. However, for a large chunk of the youth, the lack of basic skills needed for employment after completing school or graduation does not present a rosy scenario. Some of the reasons could be a very dismal connection between formal and vocational education, meagre training facilities, under-qualified trainers and lack of infrastructural facilities (UNDP). These emerging trends, when viewed in conjunction with some recent studies, show that employers have found about 25% of Indian graduates are ‘employable’ in the organised sector. The informal sector that takes care of about 93% of the workforce does not have any skilling mechanism, and largely depends on the skill development taking place on the job. 'Skill' is the ability to do something well, and the current situation calls for a quick reorganisation of the skill development ecosystem. It will act as a defining element in India's growth story by becoming an essential ingredient for future economic growth if India is to transform into a diversified and internationally-competitive economy.
skill development, empowerment, youth, resource, human, institutions, education
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